Dell has completed its takeover of EMC and launched a new brand identity under the name Dell Technologies. The takeover was first announced in October 2015, valuing EMC at USD 67 billion. EMC shareholders will receive USD 24.05 per share in cash and 0.11146 shares of tracking stock linked to EMC’s majority stake in VMware for each share they hold in EMC.
While VMware will remain a separate listed company, its management will change, with Michael Dell, chairman and CEO of Dell Technologies, taking over as chairman of the VMware board. Joseph Tucci, VMware’s chairman since 2007, as well as John Egan, who served as a director on the VMware board since 2007, are resigning following the takeover.
The takeover sees Dell continue its expansion into the enterprise market, adding EMC and VMware’s products for storage, converged systems and cloud infrastructure. The combined group will use the ‘Dell EMC’ sub-brand for its enterprise offerings sold both directly and through the channel, as well as continue to use the brands VMware, SecureWorks, Pivotal, Virtustream and RSA for specific products. The Dell brand will focus on the consumer market and PC products.